Causes of the Great Causes of the Great Depression and the Great Depression and the Great Depression (Chapter 22)Depression (Chapter 22)
Standard of Living
-”Business of America is ____________” –Calvin Coolidge
-effects of the automobile
___________to travel
-urban sprawl
-airlines develop
-electricity lights the whole nation
alternating current (Tesla)
-growth of the _______ industry
Prosperity
-growth of ___________ industry
-productivity increases
-buying on the ______________increases consumption
-Ford and Prosperity
-_______________production
-workers as consumers
-$5 day plan
““Return to Normalcy”Return to Normalcy”
_______________________________________________(Republican) _________(Republican) wins 1920 electionwins 1920 election
Conservative Post-War Conservative Post-War EraEra
Political DevelopmentsPolitical Developments
““_________________________”: Warren _________________________”: Warren HardingHarding
First election (1920) where women had the First election (1920) where women had the right to vote ______ Amendment!!right to vote ______ Amendment!!
Harding and Coolidge win by landslideHarding and Coolidge win by landslide
Normalcy in Government
-1920 election of Warren G. Harding and the simpler days before the war
-Isolationist Policies
-________________ Conferences
proposed disarmament
-________________ Treaty, 1929
outlawed war
-New high ______ returned U.S. to isolationist position; hurt farmers
-______________ policies
-discriminatory quota system established
-National Origins Act, 1921
Laissez FaireLaissez Faire
““_______________”_______________” Gov’t should leave Gov’t should leave
business alonebusiness alone
Harding and Coolidge
-Prosperity returns to the United States
-Harding made some good and bad appointment choices
Herbert Hoover
___________
-Teapot Dome Scandal
gov’t owned oil rich lands leased out to private oil companies for far less than their value
-Harding and administration are embarrassed
-Harding dies in Office and Calvin Coolidge replaces him and wins re-election
“Keep cool with Coolidge” –
“Do Nothing Cal”
Harding and Coolidge
-Prosperity returns to the United States
-Harding made some good and bad appointment choices
Herbert Hoover
Ohio Gang
-___________ Dome Scandal
gov’t owned oil rich lands leased out to private oil companies for far less than their value
-Harding and administration are embarrassed
-Harding _______ in Office and Calvin Coolidge replaces him and wins re-election
“Keep Cool with Coolidge” –
“Do Nothing Cal”
Teapot Dome ScandalTeapot Dome Scandal
Albert B. Fall: Sec. of Albert B. Fall: Sec. of InteriorInterior
Convicted of BriberyConvicted of Bribery Leased Gov’t Oil Lands Leased Gov’t Oil Lands
to make $$$$to make $$$$
HardingHarding
Sought to ______ taxes for the wealthySought to ______ taxes for the wealthy ______________ Tax Plan______________ Tax Plan
Reduce gov’t spending to protect American IndustryReduce gov’t spending to protect American Industry Harding never wanted to be presidentHarding never wanted to be president Died three years into term, avoiding congressional Died three years into term, avoiding congressional
investigations into the Teapot Dome Scandalinvestigations into the Teapot Dome Scandal _____________convicted and sent to prison for bribery_____________convicted and sent to prison for bribery Close friend Jesse Smith committed SuicideClose friend Jesse Smith committed Suicide
Harding and Coolidge
-Prosperity returns to the United States
-Harding made some good and bad appointment choices
Herbert Hoover
Ohio Gang
-Teapot Dome Scandal
gov’t owned oil rich lands leased out to private oil companies for far less than their value
-Harding and administration are embarrassed
-Harding dies in Office and Calvin Coolidge replaces him and wins re-election
“_________________” –
“Do Nothing Cal”
Calvin CoolidgeCalvin Coolidge
Former gov. of Mass.Former gov. of Mass. ________________policies________________policies Supported Big ____________Supported Big ____________ Business of America is BusinessBusiness of America is Business Little Support for ___________Little Support for ___________ Vetoed the McNary-Haugen Bill that would Vetoed the McNary-Haugen Bill that would
have provided for gov’t ___________ of cropshave provided for gov’t ___________ of crops
Election of 1928
-________________
“Two cars in every garage”
-20’s marked a reign of prosperity
-Hoover predicts the end of poverty
Stock Market Crash-Warning Signs
-____________
-Buying on __________
-Stock prices were __________
-Oct 1929 prices begin to fall
-Oct 29, 1929 _____________Great Crash
Causes of Depression
-_________________ of goods
-Too much available _________
-less consumption of goods
-farm _______/WWI
-high ____________
-no banking _________________
-______________________, 1930
-everything became a chain reaction
Hawley-Smoot Tariff, 1930Hawley-Smoot Tariff, 1930
Raised U.S. tariffs on Raised U.S. tariffs on over 20,000 imported over 20,000 imported goods to record levelsgoods to record levels
Led to Great Depression Led to Great Depression
Speculation Speculation
Buying stocks (low) Buying stocks (low) with the hopes of selling with the hopes of selling the for a ________ the for a ________ (high)(high)
Buying on MarginBuying on Margin
Buying stocks with Buying stocks with __________________ __________________ moneymoney
DangerousDangerous If stocks lose value then If stocks lose value then
you ________ you ________ everything!everything!
Easy CreditEasy CreditInstallment PlanInstallment Plan
““Buy now pay later”Buy now pay later” ___________ factor in ___________ factor in
Great DepressionGreat Depression
OverproductionOverproduction
US factories producing more than we can US factories producing more than we can ______________ or purchase______________ or purchase
““Black Tuesday”Black Tuesday”
Oct. 29, 1929Oct. 29, 1929 ____________________________________ Beginning of Great Beginning of Great
DepressionDepression CausesCauses
OverproductionOverproduction UnderconsumptionUnderconsumption Buying on MarginBuying on Margin Unequal distribution of Unequal distribution of
wealthwealth
Hard Times Hit Home-Rural areas
________________ of farms, food supply, Dust Bowl
-Cities
shantytowns, soup kitchens, breadlines
-Family Life
men on the move, hardships of women, health of children,
-Social effects
more suicide, mental illness, dreams forsaken, ethics, hardwork
Hoover’s Resolve
-Rugged Individualism
-created gov’t _________ to help business recover
-gave no __________________to the people
-”Two families in every garage”
-______________________
-____________March on Washington; baby dies from tear gas
Direct ReliefDirect Relief
Providing aid to Providing aid to families who had lost families who had lost their homes and jobstheir homes and jobs
25% unemployment25% unemployment Pres. Hoover Pres. Hoover
__________ Direct __________ Direct ReliefRelief
Said: people should be Said: people should be “____________ “____________ individuals”individuals”
HoovervillesHoovervilles
““Shantytowns”Shantytowns” _________________ living in boxes or cars_________________ living in boxes or cars Situation blamed on Pres. HooverSituation blamed on Pres. Hoover
Soup Kitchens/BreadlinesSoup Kitchens/Breadlines
Form of Form of __________________________
Feeding the poor and Feeding the poor and unemployedunemployed
Election of 1932-______________________
governor of NY
-Pledged a _____________for the people
Help for the common man
-Democrats wins great majority in Congress
-Hoover remain a lame duck for several months
-Banking system was in a crisis
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